As you are aware, cyclone Tauktae and cyclone Yaas have caused loss to property in some parts of the country. The General Insurers may have issued policies for protection of lives and property located in the affected areas. There is an urgent need for the insurance industry to take immediate steps to mitigate the hardships of the affected insured population by ensuring immediate registration and settlement of eligible claims.
As a result of Cyclones Tauktae,Yaas there are reports of loss of human lives and loss of belongings in the affected Districts of primarily in the states of Maharashtra, Gujarat, Odisha and West Bengal. In order to extend every possible facilitation in quick and timely settlement of life insurance claims, you are advised to take the following actions immediately in all the states affected by the said cyclones:
Central Record Keeping Agencies (CRAs) have been appointed by PFRDA to provide system level functionalities as per the evolving needs of NPS stakeholders in accordance with Sec 21 of PFRDA Act 2013.
The Government of Karnataka vide Gazette Notification No.RD/04/LRD/2019 dated February 08, 2021 had notified the formation of a new district in the State of Karnataka. It has been decided to assign the lead bank responsibility of the new district as under:
The Authority directs the FC/FU in the International Financial Services Centres (herein referred to as ‘IFSCs’) to adhere to the following framework for the computation of Exposure Ceiling.
After getting RAP from M.P. High court for extension of due date for complete disregard to Supreme Court order CBDT clarifies that for the purpose of counting the period(s) of limitation for filing of appeals before the CIT(Appeals) under the Act, the taxpayer is entitled to a relaxation which is more beneficial to him and […]
In Rule 86A, 4 scenarios has been mentioned for blocking of ITC. Out of the 4 scenarios, more importance has to be given for situation (a) and (c). It should be ensured that no input tax credit is availed on the strength of tax invoices or debit notes or any other documents prescribed under rule 36 issued by a registered person who has been found non- existent or not conducting any business from the place for which registration has been obtained or without receipt of goods or services or both.
The proposal should be in compliance with the legal requirements, past orders/ rulings of the Courts, if any. The State Government shall verify that there are no Court Orders prohibiting or staying the proposal for amalgamation.
In supersession of clause 9 and 10(a) of the IRDAI (Registration and Operation of IIOs) Guidelines, 2017, the International Financial Services Centres Authority (IFSCA) hereby specifies the following fee structure for IFSC Insurance offices (IIOs):
4. The above fee structure is applicable with effect from 01st day of October 2020 and the fee is payable on financial year basis. 5. The Annual Fee for Financial year 2020-21 and Financial year 2021-22 shall be paid within one month of issuance of this Circular.
